LONDON, February 3 /PRNewswire/ --

- Leading Spreadsheet Control Vendor Expands Product and Customer
Base Through Strategic US Acquisition

Finsbury Solutions, a leading supplier of spreadsheet management and
control software, today announced it has acquired the products and assets of
Compassoft Inc, a US based governance risk and compliance software vendor.
The strategic acquisition of Compassoft's End User Computing (EUC) products
strengthens Finsbury's product coverage and customer base.

Finsbury is committed to supporting and developing Compassoft's EUC
products. It will combine and integrate Compassoft's EUC software with its
Spreadsheet Workbench solution to offer an advanced product suite for the
management of spreadsheets and end user databases.

Jeremy Wood, Director of Finsbury Solutions, comments: "Regulatory
obligations and best practice require companies to put in place more
effective controls over EUC applications. The current lack of end user
computing control is a serious and growing problem, particularly in the
financial services sector.

"This acquisition enables us to provide the most complete set of
spreadsheet and EUC control capabilities. Compassoft's enterprise EUC
system's discovery and risk profiling capabilities are the most comprehensive
and scalable in the market. This will be combined with our existing
Spreadsheet Workbench solution, which sets the standard for spreadsheet
security, access control, audit and analytics. With a customer base of more
than 200 blue chip organisations we are now well positioned to explore
further growth opportunities in this fast moving market."

Paul Bach, Board Director of Compassoft, comments: "We are delighted that
Compassoft has been acquired by market leader Finsbury Solutions. We believe
that the combined product offering and Finsbury's commitment to customer
support provides our clients and prospects with an excellent future."

Compassoft, an early entrant in the EUC control market, was rated as the
enterprise spreadsheet management market leader in March 2007 by Bloor
Research. In addition, in March 2008, it received a positive rating in
Gartner's MarketScope for Spreadsheet Control Products.

Notes to Editors

About Finsbury Solutions

With a customer base of over 200 organisations Finsbury Solutions is a
leading provider of enterprise spreadsheet management and compliance
solutions.

Finsbury Solutions' products benefits from the real industry
experience of the Finsbury Solutions management team. With a background of
the past 25 years in accountancy, financial services and IT Finsbury has
extensive first hand experience of the day to day use and importance of
business critical spreadsheets and has leveraged this knowledge to develop
market leading products that are easy to use, business focussed and fast to
implement.

Formed in 2006, the company has operations in London and New York.
Further information is available on: http://www.finsburysolutions.com.

About Compassoft

Compassoft's EUC applications reduce non-compliance risk and increase
reporting accuracy by identifying, retrieving and documenting both visible
and obscure sources of business-critical information. Compassoft won numerous
awards for its technology and holds several US and international patents on
its technology.

About the EUC control market

End user computing applications comprise spreadsheets, user
controlled databases, reports and datamarts. EUC applications are commonly
used in financial reporting applications which are subject to regulations
requiring an effective system of internal control. Examples of such
legislation include the Sarbanes Oxley Act in the USA and similar legislation
in France, Japan and other countries. Financial industry regulation such as
Basel II and the credit rating agencies consider the level of operation risk
in a business. Companies have the potential to reduce their cost of capital
and improve their credit rating by improving control over EUC applications.

Issued by Broadgate on behalf of Finsbury Solutions Limited